Mr Hutton said he saw a “definite conflict” in the deal and would not be comfortable using the tool when engaged in services for his clients. “You couldn’t trust it,” he said.

However, Don Trapnell, director of risk-focused dealer group Synchron, said that while he initially questioned the deal, he ultimately concluded that as long as a “Chinese Wall” was in place between the two businesses, there is no cause for concern.

Mr Trapnell added that the TAL Group has a good track record when it comes to maintaining separation between the life product and licensee arms of the business.

Similarly, Medibroker director Aaron Zelman, founder of the ARA LinkedIn group, said the acquisition does present a conflict, but not necessarily a concerning one.

“Conflicts of interest are ever present and require effort and effective management,” Mr Zelman said. “It could be a positive thing. Hopefully Lifebroker is a tool for more Australians to get quality advice.”